Insurance Journal

JULY 11, 2024

posing greater risks to homeowners and mortgage lenders—and since flood damage tends to lower the market value of affected homes, it’s more likely that homeowners … Climate change is expected to increase the frequency and severity of floods in the U.S.,

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Damage Risk Property Insurance Insurer 278

Property Insurance Coverage Law

OCTOBER 2, 2024

Recent investigative reporting by CBS’s 60 Minutes, noted in CBS 60 Minutes Exposes Alleged Insurance Company Fraud: Adjusters Reveal Altered Hurricane Damage Estimates by Claims Management, has exposed alleged widespread underpayments of claims and unethical claims practices in Florida’s property insurance industry.

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Property Insurance Coverage Law

JANUARY 7, 2025

Insurance companies denying hail damage claims are repeat players in the litigation arena. This post will provide more insight and lessons as a grand finale to Policyholders and Public Adjusters Often Need to Hire Their Own Experts, and Policyholders and Public Adjusters … The post Want to Win a Hailstorm Damage Lawsuit?

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Damage Policyholder Property Insurance Insurance Companies 171

Property Insurance Coverage Law

SEPTEMBER 3, 2024

This post highlights an agent’s binding authority under Michigan law and discusses important insurance principles concerning the “completed-loss” and “loss-in-progress” doctrines.

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Commercial Damage Policy Property Insurance 172

Property Insurance Coverage Law

SEPTEMBER 26, 2024

A recent federal court ruling in Missouri highlights the critical importance of admissible expert testimony in property insurance disputes.

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Property Insurance Coverage Law

AUGUST 18, 2024

Property damage insurance claims funding by factoring companies is a relatively recent phenomenon in the property insurance claims industry.

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Insurance Journal

DECEMBER 8, 2024

When hurricanes hit coastal areas, property insurers often breathe a sigh of relief when much of the damage appears to be the result of storm surge and flooding losses that aren’t covered by most homeowners’ policies. But after Hurricane …

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Claim Damage Property Insurance Policy 246

Insurance Journal

OCTOBER 28, 2024

Costly reinsurance, inflation, tough regulations, and increasing weather-related claims are driving up property insurance prices—and in turn, that is impacting commercial real estate returns, valuations, and transactions, a new report shows. The Urban Land Institute and real estate investment management …

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Risk Property Insurance Commercial Insured 264

Insurance Journal

OCTOBER 9, 2024

Almost two years after a group of independent claims adjusters alleged that insurers had deceptively altered their damage estimates and low-balled policyholders, Florida’s chief financial officer has issued an emergency rule barring similar actions in Hurricane Milton claims. “Any move …

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Policyholder Claim Damage Insured 290

Property Insurance Coverage Law

NOVEMBER 30, 2024

Yesterday’s article, State Farm Wins Alabama Worn Out Roof Damage Case: Lesson About Hail Damage Cases, Expert Testimony, and Investigation Standards, deserves a follow-up about a recent Texas federal court ruling regarding Texas hail damage to roof cases.

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Property Insurance Coverage Law

OCTOBER 23, 2024

While Jimmy Patronis and Governor DeSantis trumpet their latest emergency rule as consumer protection following the CBS 60 Minutes Expose noted in CBS 60 Minutes Exposes Alleged Insurance Company Fraud: Adjusters Reveal Altered Hurricane Damage Estimates by Claims Management, the reality reveals a different story.

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Insurance Journal

OCTOBER 23, 2024

More loss and claims estimates are trickling in from carriers after Hurricane Milton caused widespread wind and flood damage in Florida this month. Tampa-based Heritage Insurance Holdings said in a preliminary statement that about two weeks after Milton made landfall …

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Claim Damage Insured Insurer 264

Property Insurance Coverage Law

SEPTEMBER 26, 2024

Consequential damages play a significant role in both contract law and insurance claims, but they operate under different frameworks and have distinct implications depending on the context. Consequential damages in contract law are indirect, foreseeable losses that result from a breach of contract.

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Insurance Journal

JULY 19, 2024

MIAMI GARDENS, Fla. (AP) AP) — Colombia’s soccer federation president and his son were among 27 people arrested during the crowd control issues that broke out at the Copa America final between Argentina and Colombia, a melee that may have caused …

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Damage Property Insurance Insurer Insured 279

Property Insurance Coverage Law

DECEMBER 17, 2024

A recent builders risk insurance dispute out of Tennessee 1 involving collapse caught my attention because of the opening facts recited by the court: How many fallen bricks does a collapse make? The Importance of Proving Damages for Partial Losses appeared first on Property Insurance Coverage Law Blog.

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Damage Property Insurance Risk Insurer 139

Property Insurance Coverage Law

JANUARY 10, 2025

Southern California faced a devastating night as the Palisades and Eaton Canyon wildfires raged out of control, forcing evacuations and leaving widespread damage in their wake.

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Property Insurance Damage Insurer Insured 179

Property Insurance Coverage Law

JANUARY 6, 2025

In yesterdays post, Policyholders and Public Adjusters Often Need to Hire Their Own Experts, the court found that the insurance policy did not provide coverage for the claimed damages for two primary reasons.1

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Property Insurance Coverage Law

SEPTEMBER 29, 2024

As Hurricane Helene victims begin to assess the damage to their properties, they face not only the immediate challenges of recovery but also potential long-term implications due to federal regulations. One such regulation that could significantly affect rebuilding efforts is FEMA’s 50% Rule.

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Damage Property Insurance Insurer Insured 193

Property Insurance Coverage Law

DECEMBER 7, 2024

The Mississippi Supreme Court has affirmed a $10 million punitive damages award against USAA for its bad faith handling of a Hurricane Katrina claim, sending a clear message about insurers’ obligations to their policyholders.1

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Property Insurance Coverage Law

JANUARY 8, 2025

I studied the topics, agenda, and panelists at this years Windstorm Insurance Conference. As a past president of the organization, I am very proud to see its continued vitality and depth of education provided to those attending.I

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Property Insurance Damage Insurer Insured 144

Property Insurance Coverage Law

AUGUST 14, 2024

One of the more complex damage issues that must be addressed in all fire, smoke, and heat claims is the amount of damage to personal property in areas of a structure far away from the main fire.

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Claim Personal Property Damage Insurer 139

Insurance Journal

JANUARY 10, 2025

billion in federal block grant money to help address historic levels of damage caused by Hurricane Helene in western North Carolina. ASHEVILLE, N.C. (AP) AP) North Carolina governments are receiving over $1.65 The money $1.43 billion for North Carolina …

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Damage Property Insurance Insurer Insured 278

The Property Insurance Law Observer

SEPTEMBER 23, 2024

American Guarantee and Liability Insurance Company , the United States District Court for the District of Massachusetts held that a loose bolt or fitting that could be remedied simply by tightening it did not constitute “direct physical loss of or damage” to equipment covered under an all-risk property insurance policy. [1]

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Property Insurance Coverage Law

OCTOBER 1, 2024

Heritage Insurance (HRTG) lost 20% of its publicly traded value yesterday following the recent CBS 60 Minutes investigation into alleged insurance fraud in Florida, which has sent shockwaves through the insurance industry.

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Property Insurance Damage Insurance Industry Insurance Companies 159

Property Insurance Coverage Law

AUGUST 30, 2024

appeared first on Property Insurance Coverage Law Blog.

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Property Insurance Coverage Law

NOVEMBER 29, 2024

So, I became intrigued by the company’s tooth-and-nail fight against a customer over an alleged hail-damaged roof that was replaced for only $18,740.

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Damage Property Insurance Insurer Insured 100

Property Insurance Coverage Law

SEPTEMBER 4, 2024

The duties of an insurance agent to the policyholder will differ depending on state law. Yesterday’s post about a Michigan coverage case, Order and Bind Insurance Before the Loss—Commercial Policy Covers Water Damage Under Drain Backup Endorsement, noted that there was also an issue with insurance agent negligence.

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Property Insurance Coverage Law

OCTOBER 10, 2024

When your home is damaged, it’s natural for most homeowners to call their insurance agent. But insurance agents don’t handle claims. Your agent is usually the first person who comes to mind because they sold you the policy. That job belongs to an adjuster.

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Insurance Agent Insurance Agents Agents Insurer 130

Property Insurance Coverage Law

DECEMBER 31, 2024

These studies are among the first to investigate air quality within smoke and ash-damaged homes and assess the health effects on occupants. … The post The Hidden Health Risks in Fire-Surviving Structures appeared first on Property Insurance Coverage Law Blog.

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Risk Property Insurance Damage Insurer 157

The Property Insurance Law Observer

OCTOBER 16, 2024

In the recent decision Universal Property & Casualty Insurance Co. The court emphasized that under both the insurance policy’s plain language and Florida Statute §627.7011(3)(a), payment of replacement cost value is contingent upon the actual completion of repairs. in damages. in damages.

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Property Insurance Coverage Law

SEPTEMBER 23, 2024

Knowing exactly what hazard insurance is (and isn’t) can help protect you financially during a crisis. So, how does hazard insurance work exactly? Key Takeaways: Hazard insurance refers to the part of a homeowners policy that covers damage to the structure. appeared first on Property Insurance Coverage Law Blog.

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Damage Property Insurance Insurer Insured 128

Property Insurance Coverage Law

OCTOBER 21, 2024

The Fifth Circuit Court of Appeals changed that with an extensive discussion of Kermith’s expert damages testimony and opinions in the case analyzed in yesterday’s post, Church Mutual Prevails in Latest Hurricane Laura Bad Faith Case: Key Differences … The post Lessons For Expert Damage Estimators From Kermith Sonnier’s Back-To-Life Legal Highlight (..)

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Damage Property Insurance Insurer Insured 100

Property Insurance Coverage Law

AUGUST 4, 2024

Insurance policies protect you from the cost of replacing lost, damaged, or stolen items: or at least, that’s how they’re supposed to work. But what happens if your insurance company refuses to pay what you are owed? appeared first on Property Insurance Coverage Law Blog.

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Property Insurance Coverage Law

NOVEMBER 25, 2024

Pacific Indemnity Company, a Chubb subsidiary known for insuring high-end properties and affluent clients, recently secured a partial litigation victory in a property insurance dispute involving a newly constructed luxury home in Alabama.

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Claim Property Insurance Damage Insurer 150

Insurance Journal

JULY 24, 2024

In July 2022, at least 40 people died and 300 homes were damaged when the eastern Kentucky county flooded. Floyd County keeps flooding and the federal government keeps coming to the rescue. It was the 13th time in 12 years …

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Damage Property Insurance Insurer Insured 270

Insurance Journal

AUGUST 8, 2024

California Insurance Commissioner Ricardo Lara issued a one-year moratorium on insurance companies to preserve residential insurance coverage for more than 185,000 policyholders affected by the Park, Borel and Gold Complex fires. The moratorium shields those living within the perimeters or …

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Policyholder Insurer Insured Insurance 299

Insurance Journal

SEPTEMBER 15, 2024

A Colorado man was charged with arson after an investigation into a wildfire this summer that destroyed 29 homes and caused more than $30 million in property damage, authorities said. Jason Alexander Hobby, 49, was arrested last week, Larimer County …

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Property Damage Damage Property Insurance Insurer 264